# In the matter of Ideal Heights Pvt. Ltd. CP (IB) No. 1255-KB-2018

> NCLT judgment dated 2019-01-23. Citation: TCN-2019-NCLT-05191. The case pertains to CP (IB) No. 1255/KB/2018 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 23 Jan 2019
- **Citation:** TCN-2019-NCLT-05191
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ideal-heights-pvt-ltd-cp-ib-no-1255-kb-2018-6de5dfbc

## Summary

### Background

The case pertains to CP (IB) No. 1255/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The matter involves Anu Bengani as the financial creditor and Ideal Heights Pvt. Ltd. as the corporate debtor. The counsels for both parties jointly submitted that the matter was settled out of the Tribunal.

## Facts

The case involves Anu Bengani (Financial Creditor) and Ideal Heights Pvt. Ltd. The matter was settled out of the Tribunal. The Counsel for the Financial Creditor sought permission to withdraw the application on account of settlement. The Corporate Debtor also agreed to the settlement. The Tribunal granted permission and disposed of the case.

## Issues and analysis

### Issue 1: Whether the application can be withdrawn based on the settlement reached between the financial …

**Ratio:** The legal principle applied here is that if parties reach a settlement outside of court,

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**Reasoning:** The court reasoned that since the matter was settled out of the tribunal, and both

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**Interpretation:** This interpretation allows for the efficient resolution of disputes through

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**Application:** In this specific case, the counsels for both the financial creditor and the

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## Parties

- **Judges:** Jinan…
- **Appellants:** Anu Ben…
- **Respondents:** Ideal Heights…

## Timeline

- **2019-01-23 — Hearing…**: Hearing on January 23rd, 2019, at 10:30 A.M.…

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